Foreign exchange guide to the Congo and the Central African franc
What's in this Congo currency guide?
The official currency of the Congo (country code: CG) is the Central African franc, with symbol FCFA and currency code XAF.
Here are some things you might want to know about the Central African CFA franc:
Save money and time by Ordering your Central African franc online from Travelex, you get better rates and can pick up the XAF cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Central African franc otherwise you may get much worst exchange rates.
The Republic of Congo, also known as Congo-Brazzaville, is a country located in Central Africa, bordered by Gabon to the west, Cameroon to the northwest, the Central African Republic to the northeast, the Democratic Republic of Congo to the southeast, and the Angola to the south.
Traveling to the Democratic Republic of Congo (DRC) can be challenging due to ongoing instability and security concerns in certain parts of the country. Here are some travel tips to consider if you're planning a trip to the DRC:
Check travel advisories: Before planning your trip, check the latest travel advisories and security information from your government's foreign affairs department or equivalent, to stay informed about the most current safety and security risks.
Get vaccinated: Check with your healthcare provider or a travel medicine specialist to ensure that you are up to date on any required or recommended vaccinations for travel to the DRC.
Plan your route carefully: Avoid traveling to areas that are considered to be dangerous or that have ongoing conflicts. Some parts of the country are completely off-limits to foreigners, so be sure to plan your route and accommodations accordingly.
Be prepared for unexpected delays: The DRC has a poorly developed infrastructure and transport can be unreliable. Be prepared for flight delays, cancellations, or other transport-related issues.
Be aware of the local laws: Be sure to familiarize yourself with the local laws and customs of the DRC to avoid any misunderstandings or legal issues.
Have emergency contact: Make sure someone know your itinerary, and contact information for emergency and consular assistance.
Have contact of good medical facilities and emergency medical evacuation services in case of any emergency situation.
It's worth noting that safety conditions can change quickly in the DRC, and that the security situation can vary significantly between different regions of the country. It's important to be aware of the current situation and to take necessary precautions to ensure your safety.
The domestic currency in the Congo is the Central African franc.
The three letter currency code for the Central African franc is XAF — symbol is FCFA.
No, the Central African franc is freely available and convertible. See guide: What is a closed currency?
Here are some popular conversion amounts for USD to XAF (US dollar to Central African franc)*.
To get a good (and fair) exchange rate when sending money to the Congo you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
When sending money to the Congo it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Central African franc deposited into the recipient bank account and less margins and fees kept by the banks!
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in the Congo.
The country has a population of around 4.8 million people and its economy is largely based on its natural resources, particularly its oil and gas sector. Congo is also rich in other mineral resources such as gold, diamonds, and timber.
Despite its significant natural resources, the Republic of Congo's economy is not as developed as it could be, and the country ranks near the bottom of most measures of human development and economic development. The country has a history of political instability and corruption, which have hindered its economic development.
The oil sector is the main source of revenue for the government. Oil production has been on a decline since the late 2000s and the government has been taking steps to diversify the economy by investing in other sectors such as agriculture, forestry, and mining.
The country has a relatively low unemployment rate and the government has made an effort to improve infrastructure and provide basic services such as education and health care to the population, but they are still insufficient.
The country has made an effort to improve its economic situation, but much remains to be done to improve its economic situation, the country has been working with international organizations such as the World Bank and IMF, as well as other countries, to improve its economy and build a more stable and prosperous future for its citizens.
Here we list some key points for expats and businesses to consider when managing financial dealings in the Congo:
Understand Central African franc currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the XAF exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Central African franc bank account: A local XAF bank account can make it easier for you to manage your finances and pay bills while you are in the Congo. It may also be more convenient to use a local XAF bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in the Congo. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in the Congo. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in the Congo, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.